由于全球锌矿产量增加较为确定，市场对于锌价走势的预期普遍偏空，叠加贸易争端一度激化拖累，今 年以来沪锌重心震荡下移。不过前期冶炼厂利润不足且二季度检修较多，国内精炼锌产量并未出现大幅 增加一幕，社会库存持续低位，现实表现不算弱势，可以看到期价几次触及21600一线附近后都有反 弹。然而进入6月份冶炼厂产量将有明显提升，沪锌会继续向下寻找支撑吗？ 贸易争端整体缓和 地缘风险扰动增加 4月美国超预期的对等关税落地，叠加其他国家纷纷反制，工业品一度重挫，不过美国对外关税政策显 然是雷声大雨点小，历经谈判过后对多国的关税税率都出现明显下调，市场情绪随之缓和。当前时间仍 处于美国关税缓冲期当中，目前市场仍在衡量关税对于美国经济的冲击，由于对关税政策可能推高通胀 的担忧存在，美联储6月议息会议传递偏鹰态度，后续仍需关注关税缓冲期过后特朗普政府的态度变化 和年内美联储降息节奏。 最近中东地缘政治局势一度紧张，一定程度推升市场避险情绪，原油系和贵金属都出现剧烈波动，对其 余金属的影响相对有限，但对锌市则带来两个方面的担忧。一方面，近几年伊朗锌矿对华都有出口， 2024年全年进口量在8万吨附近，占国内总进口的2%附近，冲突的加 ...

【近期黑色系金属价格受多因素影响震荡，短期或维持震荡走势】近期，黑色系金属价格波动受宏观、 供需及产业链多重因素交织影响。6月11日午后，国内黑色系走势震荡，焦煤涨0.06%、焦炭跌0.04%、 铁矿石跌0.35%，螺纹钢收跌0.64%，热卷收跌0.74%。 从宏观面看，内外分化压制需求。国内稳增长基 调发力，6月制造业PMI边际回升，市场对下半年基建投资和制造业设备更新政策预期升温；海外美国5 月CPI数据低于预期，降息预期升温，美元指数回落，但美联储内部政策分歧大，关税担忧仍存，投资 者谨慎。同时，美联储降息释放流动性，但企业扩张意愿不足，实际需求拉动有限。国内房地产投资低 位、新开工负增长压制建筑用钢需求，基建专项债落地有部分支撑，制造业高端钢材需求增长受外需制 约。 供应端，原料稳定，成本支撑仍在。铁矿石全球供应集中，非主流矿收缩，港口高品位矿偏紧， 国内矿进口依赖度高；焦煤受国内安监、进口国政策及运输影响波动，焦炭因焦煤成本挤压利润，焦企 限产保价致供应弹性降低。 需求端，建筑疲软，工业有韧性但难提振。房地产低迷使建筑钢材需求大 减，保障房建设缓冲部分冲击；基建项目施工支撑螺纹钢等需求，但受资金和季 ...

一、整体趋势1 1. 短期波动，长期趋稳 2. 上半年受政策宽松（如降息、税费减免）和积压需求释放影响，核心城区二手房价格可能上涨 5%-10%。但下半年若政策收紧或经济复苏不及预期，房价可能进入横盘期，部分郊区新房价格承 压。 3. 区域分化加剧 核心区（四环内） ：因教育、医疗等稀缺资源支撑，房价抗跌性强，可能维持8-15万元/㎡高位。 近郊区域 ：改善型需求支撑，价格稳中有升，但涨幅低于核心区2。 远郊及老旧社区 ：配套不足、流动性风险较高，房价可能下跌2-4%3。 二、关键影响因素 1. 政策环境2 2. "房住不炒"基调不变，限购政策局部微调，房贷利率维持低位（首套利率3.25%-3.8%）4。政府通 过增加保障性住房供应、促进库存消化等措施稳定市场。 3. 供需关系 4. 保障性住房供给增加，人口增速放缓导致住房供需矛盾缓解，但核心区域优质房源稀缺性仍支撑 价格5。 三、区域细分预测 核心区（西城、东城、海淀） ：新房价格小幅上涨（0.1%-2%），二手房价格略有下降1。 近郊（朝阳、丰台） ：改善型需求推动，价格稳中有升。 远郊及环京区域（燕郊、固安） ：库存高、配套不足，房价可能下跌5%-10 ...

Capital Southwest (CSWC) Q4 2025 Earnings Call May 15, 2025 11:00 AM ET Company Participants Amy Baker - EVP - AccountingMichael Sarner - President & CEOJosh Weinstein - Senior MD & Chief Investment OfficerChris Rehberger - CFO, Treasure & SecretaryMickey Schleien - MD - Equity ResearchErik Zwick - Managing Director, Equity ResearchRobert Dodd - Director - Finance Conference Call Participants Cory Johnson - Associate Analyst Operator Thank you for joining today's Capital Southwest Fourth Quarter Fiscal Year ...

FS KKR Capital (FSK) Q1 2025 Earnings Call May 08, 2025 09:00 AM ET Speaker0 Good morning, ladies and gentlemen. Welcome to FS KKR Capital Corp. First Quarter twenty twenty five Earnings Conference Call. Your lines will be in a listen only mode during the remarks by FSK's management. At the conclusion of the company's remarks, we will begin the question and answer session, at which time I will give you instructions on entering the queue. Please note that this conference is being recorded. At this time, Anna ...

Financial Data and Key Metrics Changes - The company reported record fee-related earnings (FRE) of $311 million, up 17% year over year [5][20] - FRE margin reached 48%, the highest level in several years [5][20] - Distributable earnings (DE) were $455 million, marking a record start to the year [18] - Assets under management (AUM) increased to $453 billion, up 6% year over year, driven by $50 billion of inflows over the past year [19][20] Business Line Data and Key Metrics Changes - Carlyle AlpInvest generated record FRE in the first quarter, nearly double from the same period last year, with AUM growing 12% to a record $89 billion [11] - Global Credit saw quarterly fee-related earnings surpassing $100 million for the first time, an increase of nearly 50% from last year [12] - Global Private Equity results were in line with expectations, with significant capital returned to investors, totaling nearly $8 billion over the past year [23] Market Data and Key Metrics Changes - The company noted strong momentum in private credit solutions, particularly in European lending, where deployment increased by 150% year over year [12] - The number of public companies in the U.S. has decreased nearly by half over the past two decades, while the number of private companies has increased more than fivefold, indicating a shift towards private market access [10] Company Strategy and Development Direction - The company is well-positioned to capitalize on new investment opportunities with $84 billion of dry powder available [8] - Carlyle is focusing on diversifying its business lines and leveraging its global brand to drive growth, particularly in wealth management and private equity [14][55] - The strategic initiative to grow capital markets is accelerating, with a record $150 million in fees generated over the past six months [13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the macro environment, noting that while there are uncertainties, the long-term trends driving demand for private capital remain strong [9][19] - The impact of recent trade policies on investor sentiment and risk appetite was discussed, with management indicating that the majority of their portfolio is U.S.-based and less affected by tariffs [6][7] Other Important Information - The company has seen a doubling of evergreen inflows over the past year, indicating strong performance in its global wealth strategy [14] - Carlyle's diversified platform allows it to mobilize resources effectively during periods of market volatility [16] Q&A Session Summary Question: Impact of trade policy and tariffs on investment activity - Management noted that while there is a cautious approach among investors, there remains a willingness to deploy capital as long as policy implementation progresses positively [30][32] Question: Future of private equity franchise and fundraising - Management indicated no major adjustments to the timing of Fund IX, with a focus on performance and deployment in Fund VIII [36][91] Question: Insurance wins and fundraising guidance - The $40 billion flow guidance includes the recent insurance transactions, with strong performance in wealth products noted [45][96] Question: Endowment sector stress and its implications - Management does not foresee a significant decline in allocations to private capital from endowments, viewing potential opportunities for capital deployment [61][62] Question: Strategic alternatives in the insurance space - Management expressed a preference for organic growth but remains open to accretive acquisitions if they make sense [68][72] Question: Opportunities in Japan - The company highlighted a strong position in Japan, with expectations for continued growth in the market due to evolving corporate stewardship and asset management capabilities [76][78]

Blue Bird (BLBD) Q2 2025 Earnings Call May 07, 2025 04:30 PM ET Company Participants Mark Benfield - Executive Director of Profitability & Investor RelationsJohn Wyskiel - President, CEO & DirectorRazvan Radulescu - Chief Financial Officer Conference Call Participants Michael Shlisky - Managing Director & Senior Equity Research AnalystEric Stine - Senior Research AnalystTyler DiMatteo - Equity Research AnalystCraig Irwin - Managing Director, Senior Research AnalystChris Pierce - Senior Analyst Operator This ...

Financial Data and Key Metrics Changes - The company reported a revenue increase of 39% year-over-year, reaching $130 million, and adjusted EBITDA rose by 84% to $132 million [6][24][28] - Net income surged to $102 million, a 316% increase compared to $24 million in the previous year, largely driven by the Sunlight transaction [28][29] - The company reaffirmed its full-year guidance for 2025, expecting revenues between $490 million and $510 million and adjusted EBITDA between $360 million and $380 million [30] Business Line Data and Key Metrics Changes - Revenues from electricity sales increased by 21% to $110 million, attributed to new operational projects, with significant contributions from Atrisko and the Israel solar and storage cluster [24][26] - The Sunlight transaction contributed $42 million to adjusted EBITDA and $97 million to pretax profit, reflecting the higher valuation of the entire cluster [28][29] Market Data and Key Metrics Changes - The company secured financing of $1.5 billion for three major projects, demonstrating strong access to capital despite market uncertainties [9][29] - In Europe, there is rising demand for energy storage, with the company starting construction on 1.3 GWh of energy storage projects in Italy, Spain, and Sweden [12] Company Strategy and Development Direction - The company aims to triple its growth every three years, supported by a diversified supply chain strategy that mitigates tariff impacts [14][20] - The focus remains on meeting increasing energy demand from utilities across America, with a robust project pipeline [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business model and the ability to navigate changes in trade policies, with minimal impact on project economics [20][22] - The company is optimistic about the potential for revenue adjustments due to PPA negotiations, but currently does not foresee changes in guidance for 2025 [36][37] Other Important Information - The company has entered the standalone energy storage market in Poland, with 3.2 GWh under development [12] - A significant milestone was reached with the financial close for Country Acres and Quail Ranch, further supporting expansion plans [9][29] Q&A Session Summary Question: Potential for negotiations affecting revenue expectations - Management is optimistic about project results and does not foresee significant changes in revenue expectations due to PPA adjustments [35][36] Question: Update on CapEx negotiations and tariff impacts - Management indicated that negotiations are ongoing, with some contracts having automatic adjustments to mitigate tariff impacts [38][39] Question: Update on US pipeline qualifying for IRA credits - Management confirmed that projects under construction are fully covered by safe harbor provisions, with efforts ongoing for future projects [46] Question: Current financing environment - The company has successfully closed major financing transactions, indicating a resilient financing environment despite market challenges [49][50] Question: Tariff impact on non-Tesla sourced storage - Management stated that 20% of storage sourced from Chinese suppliers is protected through existing contracts and prior deliveries [51] Question: Sensitivity to tariffs from other countries - The company has a diversified supply chain strategy to mitigate risks from tariffs imposed on various countries [56][57] Question: Growth signs in Europe - Management noted strong demand for energy storage projects in Europe and ongoing development in Israel, particularly in agrosolar and data centers [58][60]

In this articleSTZKDPKOMiami, Hialeah Gardens, Florida, Walmart Supercenter, checkout line cashier, customers paying. Jeff Greenberg | Universal Images Group | Getty ImagesHispanic consumers are cutting back their grocery spending on everything from beer to cooking spray, executives said during recent earnings calls.Coca-Cola, Constellation Brands and Colgate-Palmolive are among the companies that have reported a slowdown in North American sales from Hispanic shoppers.A fifth of the U.S. population identifi ...

Financial Data and Key Metrics Changes - Revenue for Q3 FY 2025 was $113 million, up 12% year-over-year and up 14% on a constant currency basis [16] - Adjusted EBITDA for the quarter was $6 million, compared to $1.1 million in the prior year, driven by higher volume, pricing, and operational improvements [8][19] - Operating income for the quarter was $1 million, compared to an operating loss of $4.6 million from the prior year [19] Business Line Data and Key Metrics Changes - Product revenue for Q3 was $57 million, up 16% year-over-year, reflecting a 23% increase in unit volume [17] - Service revenue for the quarter was $56 million, up 9% year-over-year [17] - The service business represented approximately 49% of total revenue and 59% of gross margin for the quarter [8] Market Data and Key Metrics Changes - Book to bill ratio was over 1.2, indicating healthy customer demand across both developed and emerging markets [9] - Approximately 35% of order growth was driven by the replacement of aged equipment [9] - The company reported a backlog of approximately $452 million, with zero order cancellations in the quarter [18] Company Strategy and Development Direction - The company aims to be the most reliable global partner in radiation therapy treatment technology, focusing on operational efficiency and customer partnerships [6][7] - Investments in ERP and talent are expected to enhance adaptability and capabilities in a rapidly changing global market [7] - The service business is anticipated to be a growth engine and primary catalyst for expanding margins [10] Management's Comments on Operating Environment and Future Outlook - Management noted lower visibility on near-term growth in revenues and earnings due to global trade circumstances [5] - Despite challenges, management expressed confidence in emerging stronger and more resilient from the current environment [6] - The company expects a potential negative impact of $10 million to $15 million in Q4 revenue due to tariffs, primarily affecting product sales in China [12][21] Other Important Information - The company is exploring various mitigation actions to offset tariff impacts, including establishing a foreign trade zone and developing secondary domestic sources [11] - Total cash and cash equivalents amounted to $79 million, up from $64 million at the end of the last quarter [20] Q&A Session Summary Question: Impact of deferred China adjusted EBITDA - Management confirmed that product margins were affected by higher margin deferral on China, with product margins at 22.7% for the quarter [26][27] Question: Potential impact in markets like India and South America - Management indicated that while the China impact is significant, they see strength in other regions, including India and non-China APAC markets [28][29] Question: Scenarios regarding tariff exemptions for medical products in China - Management is working closely with their China JV to seek a tariff exemption but noted uncertainty regarding the timeline and probability of success [31][34] Question: Future activity in China and potential impacts - Management stated that they are conducting internal scenario planning and will provide more clarity in future calls [38] Question: Focus on emerging markets - Management confirmed a strategic focus on both developed and emerging markets, leveraging opportunities in regions like the UK and non-China APAC [39][41]